ImmunoGen announces collaboration with Takeda for ELAHERE

ImmunoGen (IMGN) announced it has entered into an exclusive collaboration with Takeda Pharmaceutical Company Limited (TAK) to develop and commercialize ELAHERE in Japan. “As a leader in the development and commercialization of novel products in oncology for more than two decades and with a deep heritage and presence in Japan, Takeda is the ideal partner to help us deliver ELAHERE to eligible patients in this important market,” said Mark Enyedy, ImmunoGen’s President and Chief Executive Officer. “Building upon our strong commercial launch in the US, this partnership reinforces the continued excitement around ELAHERE’s practice-changing potential and our commitment to bringing this biomarker-directed ADC to patients globally.” Under the terms of the collaboration and license agreement, ImmunoGen will receive a one-time, upfront payment and an additional payment upon conversion of US Food and Drug Administration accelerated approval of ELAHERE in platinum-resistant ovarian cancer to full approval. The Company is eligible to receive additional payments if Takeda achieves prespecified regulatory and commercial milestones, as well as double-digit royalties on future net sales of ELAHERE in Japan. Per the agreement, ImmunoGen has retained exclusive production rights and will supply product for development and commercial use in Japan. In exchange, Takeda will receive an exclusive license to develop and commercialize ELAHERE in Japan and is responsible for all regulatory filings and obligations.